Barb Schlinker The Real Estate Voice

In Colorado, you have said before that Real estate agents are licensed to fill out the forms the state gives them to complete the legal contracts for buyers and sellers. What about New Homes, are those forms the same and how can buyers protect themselves?➢Builders use their own contracts to protect themselves.➢The problems, especially in this red-hot competitive market is that buyers fall in love, decide to sign an agreement with the builder but often those agreements have zero protections for the buyer and all in favor of the builder!➢I do recommend you take an agent with you.➢ If you decide to buy directly from the builder, at least hire an attorney to look over the contract.➢I recently had a buyer that decided to walk away from their deposit and a new home because the construction quality was poor & the home did not appraise VA.➢Although the sales person on site ‘said’ the Earnest Money was $3500.  The form actually said:○$500 was Earnest Money○$3000 was a NON-REFUNDABLE INDUCEMENT FEE➢Per the VA rules